Tesla stock flips Uturn after Model S fires cleared in German …

23 Мар 2014 | Author: | Комментарии к записи Tesla stock flips Uturn after Model S fires cleared in German … отключены
Tesla Model S

Tesla stock flips after Model S fires in German investigation

PALO — After suffering the weight of two car fires that a federal investigation, Tesla (TSLA ) stock rebounded in a big way after the electric-car maker that a German safety had ended with no concerns and a auto analyst suggested were now undervalued.

Tesla shot higher by $20.53, or percent, to $144.70 Tuesday, a downhill ride that the stock from a record high of $194.50 Sept. 30 to as low as in late November, a decrease of than 40 percent.

Tesla’s has been alternately blamed on about two Model S fires in the States and the stock’s spectacular which led CEO Elon Musk to that Tesla has a higher than we have any right to Good news on the first arrived Monday afternoon, Tesla announced that a investigation into the fires had no manufacturer-related defects.

The fires in Washington state and occurred after metal in the road punctured the underside of the Model S electric cars, causing the cars’ batteries to fire and engulf the cars in A third fire, in Mexico, after a driver drove a concrete wall and slammed a tree.

After the National Highway Safety Administration announced month that it would the Model S to examine the potential associated with undercarriage Musk vociferously defended the in a release the same day. wrote that Tesla had a software update to its cars will keep the underside of the car away from the road highway driving and promised to Tesla’s warranty policy to coverage for any fire, including caused by driver error.

has been expanding delivery to and Asia, and Musk recently Germany as our top focus in the world for the S, the first car the Palo Alto has fully developed and manufactured. A spokeswoman said by email that the German investigation did not any effect on sales in Germany, have been proceeding

Before the fires began the stock price, Tesla had shot up more than 470 in 2013, as the company showed off its quarterly profit and ramped up of the Model S to meet increasing The stock’s sudden gains many stock analysts to caution, but well-respected Morgan analyst Adam Jonas in a Tuesday morning note the recent slide had reversed his Jonas tabbed Tesla as the bank’s top stock pick 26 U.S. automakers and noted Tesla shares have from 20 percent overvalued to 20 percent undervalued in just two

FILE — This 22, 2012 file photo a Tesla Model S outside the factory in Fremont, Calif. Sakuma/AP Photo)

We are actually impressed there only been three since the car has gone on sale 17 months, 22,000 units and 130 million miles driven Jonas wrote, later Investors who resisted buying the momentum peak have a new to own a good and well-managed company.

Tesla Model S

analysts were more Tuesday, preferring to wait for the end of the inquiry to declare a success for

This is good news for the though it could be overshadowed if safety regulators find a with the car’s design, Blue Book senior Karl Brauer wrote. American consumers will until NHTSA completes its before deciding how confident are regarding the design of the Model S.

An agency representative told newspaper Tuesday that the is ongoing, and said there was no timetable for completion. The agency its Nov. 27 letter to Tesla information on the fires and the company’s on its website Tuesday morning standard practice, according to a News report; a full is due by Jan.


Jack Nerad, editor and analyst at Kelley Book, reported Tuesday NHTSA Administrator David told him in a recent interview Tesla was going well the norm in providing information and regarding the vehicle fire

Staff writer Dana contributed to this report. Jeremy C. Owens at 408-920-5876; him at Twitter.com/jowens510.

Tesla Model S
Tesla Model S
Tesla Model S
Tesla Model S
Tesla Model S

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